Albemarle (NYSE:ALB) Given New $185.00 Price Target at Mizuho

Albemarle (NYSE:ALB) had its price objective dropped by research analysts at Mizuho from $205.00 to $185.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the specialty chemicals company’s stock. Mizuho’s target price would suggest a potential upside of 37.08% from the company’s previous close.

A number of other brokerages have also weighed in on ALB. Wells Fargo & Company lifted their price objective on shares of Albemarle from $165.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. UBS Group increased their price objective on Albemarle from $230.00 to $264.00 and gave the company a “buy” rating in a report on Friday, May 8th. Royal Bank Of Canada increased their price target on shares of Albemarle from $253.00 to $257.00 and gave the company an “outperform” rating in a research note on Tuesday, May 26th. Berenberg Bank lifted their price target on shares of Albemarle from $153.00 to $192.00 and gave the stock a “hold” rating in a research note on Tuesday, June 2nd. Finally, Oppenheimer lifted their target price on Albemarle from $216.00 to $222.00 and gave the stock an “outperform” rating in a research report on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $200.33.

Albemarle Stock Up 4.0%

ALB stock opened at $134.96 on Wednesday. The company’s 50 day moving average price is $173.67 and its 200 day moving average price is $169.41. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.21 and a current ratio of 2.07. Albemarle has a fifty-two week low of $60.64 and a fifty-two week high of $221.00. The firm has a market capitalization of $15.92 billion, a price-to-earnings ratio of -39.58, a PEG ratio of 0.62 and a beta of 1.30.

Albemarle (NYSE:ALB) last issued its quarterly earnings results on Wednesday, May 6th. The specialty chemicals company reported $2.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $1.71. Albemarle had a negative net margin of 5.00% and a positive return on equity of 5.22%. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the previous year, the firm earned ($0.18) earnings per share. The firm’s quarterly revenue was up 32.7% on a year-over-year basis. On average, equities research analysts anticipate that Albemarle will post 12.98 EPS for the current fiscal year.

Insider Buying and Selling at Albemarle

In related news, CEO J Kent Masters sold 16,393 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $183.72, for a total transaction of $3,011,721.96. Following the completion of the sale, the chief executive officer directly owned 87,519 shares of the company’s stock, valued at $16,078,990.68. This trade represents a 15.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.42% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Albemarle

A number of large investors have recently bought and sold shares of ALB. Strategic Advocates LLC acquired a new position in shares of Albemarle during the third quarter worth about $25,000. MH & Associates Securities Management Corp ADV purchased a new position in Albemarle during the fourth quarter worth about $26,000. BOKF NA lifted its position in Albemarle by 5,771.4% in the third quarter. BOKF NA now owns 411 shares of the specialty chemicals company’s stock valued at $33,000 after purchasing an additional 404 shares during the period. Elyxium Wealth LLC acquired a new stake in Albemarle in the fourth quarter valued at about $34,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in Albemarle by 536.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 573 shares of the specialty chemicals company’s stock valued at $36,000 after purchasing an additional 483 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Albemarle Company Profile

Albemarle Corporation is a leading global specialty chemicals company primarily engaged in the production and distribution of lithium, bromine, and catalysts. Its lithium segment supplies key components used in rechargeable batteries for electric vehicles, portable electronics, and grid storage systems. The company’s bromine specialty products serve a wide range of industries, including oil and gas drilling fluids, fire safety solutions, and water treatment. In its catalysts division, Albemarle provides products for petroleum refining, chemical processing and emissions control.

Founded in 1994 as a spin-off from Ethyl Corporation, Albemarle has grown through strategic acquisitions and capacity expansions to become one of the world’s foremost chemical producers.